Petco Named As One Of World’s Most Ethical Companies
For the sixth year in a row, Petco has been designated as one of the world’s most ethical companies, and is only one of three retail companies honored as such in 2017.
Petco, along with Target and UK retailer Marks and Spencer, were the only three retail companies to make the Ethisphere Institute’s 2017 World’s Most Ethical Company list. This is the sixth consecutive year Petco is being recognized for its commitment to ethical business practices.
Ethisphere Institute uses a unique Ethics Quotient to assess a company’s performance in a consistent way. The scores that were used to determine which companies in the world were most ethical were based on five main categories. Ethics and compliance programs comprised 35% of scores, while corporate citizenship and responsibility made up another 20%. Showing a culture of ethics also made up 20% of the score with governance making up 15% and ethical leadership, innovation and reputation rounded up the last 10% of each company’s score.
Petco CEO Brad Weston says that Petco has always been committed to high levels of integrity, ethical business practices and most importantly, social responsibility. Weston says they are honored to continually receive the distinguished award, as it directly reflects the commitment Petco has to doing the right thing for pets and for people.
The Ethisphere Institute has recognized ethical companies for eleven years, finding companies who realize their roles in society have the ability to influence and drive positive changes in the world. Ethisphere’s Chief Executive Officer Timothy Erblich says that the companies on the list invest in local communities around the world, and embrace diversity and inclusion as part of corporate culture.
Petco has been served pets and parents for over 50 years, and believes in developing powerful relationships between people and pets. Their vision, “Healthier Pets. Happier People. Better World.” relays their desire to do this on a global level, and the Petco Foundation has invested nearly $200 million to the welfare of companion animals since its inception in 1999.
Well done, Petco!